Important things to note:
BTC is on its way to completing its cup and handle pattern with around 100k target.
TOTAL2 Started its consolidation following the impulse on NOV 10th (This is not bad).
ADA has shifted its trend to upward moving.
ADA is starting to work on the 2nd side of its basing pattern.
There has been a few months of consolidation for ADA, this will do it well in the future.
Spot ETF got denied by SEC (no surprise there) They will instead launch futures ETF like everyone else.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
So I hope everyone is doing well. BTC is almost at its completion of the cup and handle pattern I have been waiting for. This will create the target of 100k like I have said before. ALTs have started their consolidation after the Nov 10th liquidity event. This is very good in my opinion because the PA was looking a bit high a few days before it occurred. This will give the alts some time to relax prior to another push. ADA is right on track for its basing pattern I mentioned a couple weeks ago. The 200MA is heading upward, and I would like to see a test of it before things really get going, but I do not know if I am going to get that. It would likely send the price higher quicker, but I am ok with the slow grind as well. All of the consolidation from the formation of the basing pattern will pay off well. We can see that right after the push upwards, the liquidity event stopped the bull flag right in its tracks. However, it is important to note that though the horizontal trendline that served as resistance for so long has turned to support. Not only that, the trendline has been tested a few times now, and the price seems happy above it. Either way, this does not change much. Worst case scenario the price will still be in range to complete the basing pattern and best case scenario the basing pattern gets finished quicker. There doesn't really seem to be that much downside at this moment. I am keeping an eye on ADA, and though have been busy, I try to keep you up to date on what is going on if I see something important. Overall the market looks fine! I will be trying to put out other charts on assets I like so stay tuned! Thanks again everyone!!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
BTC is on its way to completing its cup and handle pattern with around 100k target.
TOTAL2 Started its consolidation following the impulse on NOV 10th (This is not bad).
ADA has shifted its trend to upward moving.
ADA is starting to work on the 2nd side of its basing pattern.
There has been a few months of consolidation for ADA, this will do it well in the future.
Spot ETF got denied by SEC (no surprise there) They will instead launch futures ETF like everyone else.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
So I hope everyone is doing well. BTC is almost at its completion of the cup and handle pattern I have been waiting for. This will create the target of 100k like I have said before. ALTs have started their consolidation after the Nov 10th liquidity event. This is very good in my opinion because the PA was looking a bit high a few days before it occurred. This will give the alts some time to relax prior to another push. ADA is right on track for its basing pattern I mentioned a couple weeks ago. The 200MA is heading upward, and I would like to see a test of it before things really get going, but I do not know if I am going to get that. It would likely send the price higher quicker, but I am ok with the slow grind as well. All of the consolidation from the formation of the basing pattern will pay off well. We can see that right after the push upwards, the liquidity event stopped the bull flag right in its tracks. However, it is important to note that though the horizontal trendline that served as resistance for so long has turned to support. Not only that, the trendline has been tested a few times now, and the price seems happy above it. Either way, this does not change much. Worst case scenario the price will still be in range to complete the basing pattern and best case scenario the basing pattern gets finished quicker. There doesn't really seem to be that much downside at this moment. I am keeping an eye on ADA, and though have been busy, I try to keep you up to date on what is going on if I see something important. Overall the market looks fine! I will be trying to put out other charts on assets I like so stay tuned! Thanks again everyone!!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Kommentar:
I have mentioned the three drives pattern before but if you look at the 1D chart for ADA, you should see it a bit more clearly. If you still can't spot it, look for the lowest points in RSI since the pullback.
Kommentar:
Also, BTC will need to fall jussst a bit more before pushing back up. Take a look at the RSI (I did a complete post on this recently if you do not know what I am referring to).
Kommentar:
So I have mentioned a long time ago how I would teach you all about the derivatives markets (options, futures, pairs, all of the fun stuff). I plan on doing this when I make videos. It is more advanced so I will wait until everyone has a firm understanding of the markets in general first. I spent a lot of my time in traditional markets volatility harvesting and collecting premium. That is the main way I run options. I heard a podcast with PlanB and he mentioned that if you run your contracts directionally you are the loser and if you just harvest volatility you are a winner in the derivatives markets. Obviously, I agree with him. This is where I make the most money. With crypto, the volatility is extremely high, which is great if you use that strategy. In traditional markets, I would use special software that would screen for everything I needed to run my spreads with extremely high probability of success. With crypto, we have to use glassnode but eventually I would like to set up my own node, run it through the cloud, and create my own algorithm to find what I need. Not that glassnode isn't great, I just don't like shelling out the money for it and I would like my own tailored algos. Anyways, I just listened to the podcast and I thought it was nice that he uses the same strategy that I have employed for quite awhile now.
If you want to learn more about it in the short term. Check out TastyTrade. They are a great resource for this strategy. I know the company got acquired recently so I'm not sure if they changed anything, but they should have a lot of videos on spreads and how to use them.
However, this should NOT be practiced in real markets unless you have a firm understanding of what you are doing. Paper trading is a great way to get your feet wet. Eventually you will be well rounded traders making good money. Enjoy the process of learning. Cheers!
If you want to learn more about it in the short term. Check out TastyTrade. They are a great resource for this strategy. I know the company got acquired recently so I'm not sure if they changed anything, but they should have a lot of videos on spreads and how to use them.
However, this should NOT be practiced in real markets unless you have a firm understanding of what you are doing. Paper trading is a great way to get your feet wet. Eventually you will be well rounded traders making good money. Enjoy the process of learning. Cheers!
Kommentar:
There's the 200MA test! The next couple hours will tell us if BTC is going to do another leg or finish the correction. The bounce wasn't bad.
Kommentar:
Uh oh big red candle day! It is not that ADA is somehow bearish all of a sudden. Open up coinmarketcap and take a look at basically every top asset. They all look the same. ADA will move with the market. By my estimates, BTC will head to around 180k. If this happens, of course the 6th largest market cap will go with it. If you think otherwise, I am not sure what to tell you other than good luck. I have a lower entry on my assets, otherwise I would be buying. Anyways, keep an eye on BTC!
Kommentar:
I mentioned this in the comments but I figured I should make it an update. If you have not entered ADA yet and are looking to do so, ADA has a chance of retesting previous levels. Specifically the last breakout of 1.53. This is similar to the structure you have seen from ADA right before the breakout. This will be signaled by a fall below the 200MA. So, if you are looking to buy more, a break below the 200MA would be the signal to start DCAing.
If you are already in ADA (I am guessing most of you are). Sit back and relax. Unless the market decides to end early, you don't have anything to worry about. I am not sure why anyone would be short right now. That does not make much sense to me, but hey, people have different opinions I suppose. You need to learn to take advantage of times like this. Red days in a bull run are a blessing. My portfolio is currently allocated and ready for the run. However, I am still looking for entries during this nice pullback. Why miss an opportunity?
If you are already in ADA (I am guessing most of you are). Sit back and relax. Unless the market decides to end early, you don't have anything to worry about. I am not sure why anyone would be short right now. That does not make much sense to me, but hey, people have different opinions I suppose. You need to learn to take advantage of times like this. Red days in a bull run are a blessing. My portfolio is currently allocated and ready for the run. However, I am still looking for entries during this nice pullback. Why miss an opportunity?
Kommentar:
BTC 56.4? hmm.
Kommentar:
Well RSI on BTC looks good for now. Bullish divergence on RSI. I was waiting for it to fall past a certain level like I had explained previously. The bounce was a little lackluster. Let's see if this base holds. 56.4 will be the next move if it fails. Overall, this was a pretty mild pullback in my opinion.
Kommentar:
In terms of ADA, RSI is showing bullish divergence (regular not hidden) on 4hr chart.
Kommentar:
I woke up to buy signals on BTC. This is just a signal at the moment, but we finally got a meaningful bounce. If the signal fails, BTC is headed to 56.4 like I said before. If not, it is headed to 73 like I said a long time ago. Anyways, hope you all are managing to keep those emotions in check! I am going to post some rather overdue updates in the meantime. Cheers!
Kommentar:
Boy this post really brought out the weirdos. It seems not everyone can keep it together during a one week pullback LOL. Anyways, I just put out updated charts showing the structure of a number of assets I have covered previously. During the pullback, they held up very well. Any pennants turned into flags with the exception of KDA due to its extreme bullish sentiment after the last run. I will do a few more than put out and ADA update. Enjoy!
Kommentar:
A number of people have asked me if I think PlanB's price floor prediction can come true. I think it absolutely can come true. However, the pullback that follows will be pretty nasty I am sure.
Kommentar:
Well, BTC went to 56.5 instead of 56.4, close enough. lol It should be over and start moving up once it passes the old low. Everything else will follow.
Overall ADA lookin good!
On chain data suggests the market is lookin good as well!
Cheers!